LOWNA, BC, April 27 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture
Exchange)("Metalex" or the "Company").
Results from processing of the second sample (T1-4-2) from minibulk drill
hole T1-4 drilled into the T1 kimberlite, Ontario have now been received from
CF Mineral Research Ltd. A total of 289 natural diamonds were recovered from
271.62 kg of drill core. The size distribution, and weights of diamond in each
category, are tabulated below:
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Sieve less than
Size (mm) 0.106 0.106 - 0.15 0.15 - 0.212 0.212 - 0.3
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No. of diamonds 70 53 55 45
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Weight (cts) 0.0004 0.001247 0.003502 0.007524
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Sieve
Size (mm) 0.3 - 0.425 0.425 - 0.6 0.6 - 0.85 0.85 - 1.18
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No. of diamonds 30 21 12 3
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Weight (cts) 0.15608 0.033509 0.042255 0.020618
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This result does not include the ball mill oversize (plus 1.18 mm
fraction) which has yet to be fused and analyzed.
Two of the three largest diamonds recovered, measuring 1.5 x 1.3 x 0.6 mm
and 1.4 x 1.3 x 0.5 mm respectively, are chip fragments from larger stones,
probably broken during core drilling, CF Minerals report that 201 of the 289
diamonds (69.55%) are white diamonds.
Drill hole T1-4 is drilled due north and is inclined at minus 76 degrees.
Sample T1-4-2 comprises kimberlite from 257.2 to 289.9 metres within this
drill hole.
This result, when normalized to 100 kg, is very similar to the results
from the first sample from drill hole T1 - 4 (Sample T1-4-1 from 145.7 to
187.4 metres) reported on April 11, 2006 and appears to demonstrate continuity
of grade and stone size distribution in kimberlite in this part of T1. The
very high proportion of white diamonds (70%) is entirely consistent with other
minibulk drill holes drilled in T1.
Metalex, and its partner Arctic Star Diamond Corp, are most encouraged by
this latest result.
Metalex's exploration projects are managed by Kel-Ex Development Ltd., a
company owned by Dr. Charles Fipke, the Chairman of Metalex. Dr. Peter
Gregory, the President of Metalex is a consultant to Kel-Ex. The arrangement
with Kel-Ex provides Metalex with access to the advanced proprietary databases
and interpretational techniques of Dr. Charles Fipke, an internationally
recognized diamond consultant. In return, Kel-Ex receives a 10% administration
fee and, in the case of some of the Canadian projects, a 10% interest in the
project carried to production. (Kel-Ex will repay its proportionate share of
the costs of mine development out of mine profits). Dr Fipke also owns the CF
Minerals Research Laboratory where samples collected from the Company's
exploration programs are analyzed. Dr. Peter Gregory, a Qualified Person, has
verified the work carried out by Kel-Ex, manager and operator of the Company's
projects is being carried out in a professional and diligent manner and that
the appropriate quality controls are in place, Dr Gregory has also inspected
the CF Mineral Research Laboratory and is satisfied that the work performed
there meets, or exceeds, international best practices; that the work is
performed on an arms length basis and in accordance with standard commercial
arms length terms; and that the results provided by CF Mineral Research Ltd
are accurate and reliable. On this basis the Company has not sought any
independent analysis. However, should significant diamond grades be discovered
the Company may seek independent verification of such results. Dr Gregory has
prepared this press release.
Peter Gregory
President
The TSX Venture Exchange does not accept responsibility for the adequacy
or the accuracy of this release.
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